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April 29, 2014

Institutional Priorities Committee
Minutes of April 29 , 2014
3:00pm - 5:00pm 
DeRosa Center Room 211

Present: Atterbury, Buckley, Cavanaugh, Day, Eibeck, Fox, Gale, Gutierrez, Kleinert, Lackey, Luu, Lyon, Martin, Meyer (Chair), Murta, Pallavicini, Perrot, Shaw, Staniec

Absent:
 Arnold, Hein, Leland

Guests:
Arlene Cash, Ken Mullen

Call to Order: 
3:00pm

Minutes: 
Minutes for the April 15, 2014 meeting were approved.

Review feedback from Board on final budget recommendations
The budget was passed by the Board. The Board expressed their appreciation to the IPC.  

SIF principles
President Eibeck provided an update on the Strategic Investment Fund (SIF). The SIF is expected to have over $10 million in base funds available as of July 1, 2014; after academic reallocations are completed on July 1, 2015, the SIF will have accumulated over $13 million in base funds. Each year, base funds that are not allocated to strategic programs will carry forward as one-time funds.  

Initiatives central to achieving the goals of Pacific 2020 and the significance of its impact on expanding new revenue will have the highest priority for SIF allocations. Three groups will be engaged in allocation decisions: the Strategic Planning Committee, the Institutional Priorities Committee and Cabinet.  

 SIF Expenditure Principles
There will be three types of SIF investments:
1.       New/existing academic programs support (ideally more than half base funds used for this area ($7M))
2.       Strategic institutional capacity building (ideally less than half base funds used for this area ($6M))
3.       Strategic Excellence in Emerging Directions (SEED) ($500K of one-time funds allocated annually) 

An SIF status update will be brought to the Board at each meeting for the indefinite future.

Review status and budget strategy for McGeorge
The President shared confidential information on McGeorge. 

Adjourned: 4:35 pm